Every province in China, including Zhejiang, has government run investment promotion authorities that promote trade and foreign investment in the Zhejiang region. While the Ministry of Commerce of the People’s Republic of China (also known as MOFCOM) has authority for investment in greater China, it can be very helpful to reach out to similar agencies at the local and provincial levels as these organizations possess intimate local market knowledge. Many regional authorities will also offer additional incentives to foreign companies looking to invest in specific industries.
|Type||Agency Name & Link|
|National||Ministry of Commerce of the People’s Republic of China (MOFCOM)|
|Provincial||The People’s Government of Zhejiang Province|
|Provincial||Department of Commerce of Zhejiang Province|
|Provincial||Zhejiang International Investment Promotion Center|
|Zhejiang Investment Incentives|
|Incentives for Sino-Foreign Joint Ventures||State||The provincial government offers the following investment incentives for Sino-Foreign Joint Ventures: tax subsidies and tax refunds for Sino-Foreign Joint Ventures that reinvest profit.|
|Incentives for Investment in the Ningbo Free Trade Zone||City||As an incentive to stimulate trade and foreign investment, the Ningbo Municipal Government has set up the Ningbo Free Trade Zone. Foreign enterprises will enjoy the following preferential policies within NFTZ: merchandise entry and exit exemptions from tax, quota, and licensing, tax exemptions on equipment and materials infrastructure materials, reimbursement and subsidies on land, workshop, and dormitories.|
|Incentives for Investment in the Wenzhou Development Area||City||As an incentive for foreign investment, the Wenzhou Municipal Government has created the Wenzhou Economic and Technical Development Zone. Foreign enterprises will enjoy the following preferential policies within WETDZ: income tax rebates; tax rebates for reinvestment of profit and lowered lease rates on state land.|
Important Note: Many incentives must be repaid at the provincial and/or city level in the event that the company leaves the region. National incentives are not typically subject to these restrictions.
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